Short Interest in Emerald Expositions Events Inc (NYSE:EEX) Grows By 127.4%

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Emerald Expositions Events Inc (NYSE:EEX) saw a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 418,500 shares, an increase of 127.4% from the September 30th total of 184,000 shares. Based on an average daily volume of 125,200 shares, the short-interest ratio is presently 3.3 days. Currently, 1.7% of the company’s stock are short sold.

A number of brokerages have recently commented on EEX. ValuEngine lowered Emerald Expositions Events from a “hold” rating to a “sell” rating in a report on Friday, November 1st. TheStreet lowered Emerald Expositions Events from a “c-” rating to a “d+” rating in a report on Friday, August 9th. Citigroup raised Emerald Expositions Events from a “sell” rating to a “neutral” rating and increased their price objective for the company from $11.00 to $11.50 in a report on Wednesday, July 24th. Goldman Sachs Group lowered Emerald Expositions Events from a “buy” rating to a “neutral” rating in a report on Wednesday, August 21st. Finally, Zacks Investment Research raised Emerald Expositions Events from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $12.76.

A number of large investors have recently made changes to their positions in EEX. First Trust Advisors LP boosted its stake in Emerald Expositions Events by 7.7% during the 1st quarter. First Trust Advisors LP now owns 217,899 shares of the company’s stock valued at $2,767,000 after purchasing an additional 15,589 shares during the period. LGT Capital Partners LTD. boosted its stake in Emerald Expositions Events by 9.1% during the 2nd quarter. LGT Capital Partners LTD. now owns 180,000 shares of the company’s stock valued at $2,007,000 after purchasing an additional 15,000 shares during the period. Swiss National Bank boosted its stake in Emerald Expositions Events by 40.5% during the 2nd quarter. Swiss National Bank now owns 46,800 shares of the company’s stock valued at $522,000 after purchasing an additional 13,500 shares during the period. Gabelli Funds LLC boosted its stake in Emerald Expositions Events by 2.9% during the 2nd quarter. Gabelli Funds LLC now owns 71,000 shares of the company’s stock valued at $792,000 after purchasing an additional 2,000 shares during the period. Finally, WCM Investment Management LLC boosted its stake in Emerald Expositions Events by 11.5% during the 2nd quarter. WCM Investment Management LLC now owns 924,514 shares of the company’s stock valued at $10,308,000 after purchasing an additional 95,244 shares during the period. Hedge funds and other institutional investors own 33.93% of the company’s stock.

Shares of NYSE EEX traded up $0.06 during mid-day trading on Friday, reaching $9.64. 6,040 shares of the company traded hands, compared to its average volume of 116,115. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.50 and a current ratio of 0.50. The stock has a market cap of $697.04 million, a PE ratio of 7.25 and a beta of 0.65. The company’s fifty day moving average is $9.82 and its two-hundred day moving average is $10.77. Emerald Expositions Events has a fifty-two week low of $9.12 and a fifty-two week high of $14.62.

Emerald Expositions Events (NYSE:EEX) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.04. Emerald Expositions Events had a positive return on equity of 10.02% and a negative net margin of 19.25%. The business had revenue of $75.60 million for the quarter, compared to analyst estimates of $79.38 million. During the same quarter in the prior year, the firm posted $0.32 EPS. The firm’s revenue for the quarter was down 26.7% on a year-over-year basis. Research analysts forecast that Emerald Expositions Events will post 0.81 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.30 annualized dividend and a yield of 3.11%. Emerald Expositions Events’s payout ratio is 22.56%.

Emerald Expositions Events Company Profile

Emerald Expositions Events, Inc operates business-to-business (B2B) trade shows in the United States. The company operates trade shows in various industry sectors, including gift, home, and general merchandise; sports; design and construction; technology; jewelry; and others, such as photography, food, healthcare, industrials, and military.

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